Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Babson Hires Posch, Adrogue to Head Emerging-Market Debt

Don't Miss Out —
Follow us on:

Oct. 11 (Bloomberg) -- Babson Capital Management LLC, a debt manager with more than $182 billion in assets, hired Brigitte Posch and Ricardo Adrogue to lead a new team investing in emerging-market debt.

Posch, who is based in London, will head investment management for all emerging-market corporate debt strategies, according to an e-mailed statement today from Babson. Adrogue, based in Boston, will oversee investment management for sovereign and local-currency strategies. The new team will report to Russ Morrison, head of global fixed income.

Emerging market governments and companies have sold about $300 billion of dollar-denominated bonds in international capital markets in 2013, 10.8 percent more than in the same period last year, according to data compiled by Bloomberg. Emerging economies will grow 4.5 percent in 2013, compared with an estimate of 5 percent made in July, the International Monetary Fund said this week.

“Expanding our already robust global fixed-income platform to include an emerging-market debt capability builds on our firm’s core strengths, and supports our strategy of providing customized investment solutions for our clients,” Tom Finke, Babson’s chief executive officer, said in the statement.

Adrogue joins Babson from Cabezon Investment Group where he was an emerging-market, fixed-income money manager, according to the company. Before Cabezon, he was a money manager for emerging market debt at Wellington Asset Management. Posch previously worked at Pacific Investment Management Co., where she was head of emerging-market corporate debt.

More Hires

Babson, which has offices in New York, Charlotte, North Carolina and Springfield, Massachusetts, is a unit of Massachusetts Mutual Life Insurance Co. It plans to hire additional professionals for the emerging-market team in the coming months, the company said.

The IMF cut its 2013 Mexican growth forecast to 1.2 percent from 2.9 percent, while keeping unchanged its 2.5 percent growth forecast for Brazil this year and reducing its 2014 estimate to 2.5 percent from 3.2 percent. The Washington-based lender expects Russia to grow 1.5 percent this year, down from 2.5 percent in July, according to the report. India will grow 3.8 percent this year, the IMF said, down from a July prediction of 5.6 percent.

To contact the reporter on this story: Kristen Haunss in New York at khaunss@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.